Friday 29 Mar 2024
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KUALA LUMPUR (Sept 28): MCE Holdings Bhd has bagged contracts worth RM33 million to supply various electronic and mechatronic components and parts for Perodua's new car models.

In a Bursa Malaysia filing, the automotive parts manufacturer and trader said the job is expected to begin some time between May and July next year, and is for a seven-year period.

"These projects (contracts) are expected to generate total revenue of approximately RM33 million for MCE Group over the seven-year period whilst the estimated total investment cost is RM1 million," it said.

It expects the job to contribute positively to its earnings over the duration of the job, beginning from the first quarter of its financial year ending July 31, 2019.

On another note, MCE announced it has slipped into the red with a net loss of RM671,000 in its fourth quarter ended July 31, 2017 (4QFY17), compared with a net profit of RM229,000 in the corresponding quarter last year, as revenue fell 22%.

Revenue declined to RM14.3 million from RM18.32 million, due to lower demand for original equipment manufacturer (OEM) products.

Nevertheless, the group returned to profit for the full FY17, with a net profit of RM1.25 million, compared with a net loss of RM2.29 million in FY16, while revenue inched up 4% to RM80.17 million from RM76.90 million.

Shares in MCE Holdings were not traded today. The counter last closed at 80 sen, for a market capitalisation of RM35.52 million.

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